5. Ross Nelson, CFA, manages accounts for high-net-worth clients, including his own family's account. He has no beneficial ownership in his family's account. Because Nelson is concerned about the
appearance of improper behavior in managing his family's account, when his firm purchases a block
of securities, Nelson allocates to his family's account only those shares that remain after his other
client accounts have their orders filled. The fee for managing his family's account is based on his
firm's normal fee structure. According to the Standards of Practice Handbook, Nelson's best course
of action with regard to management of his family's account would be to:
A. remove himself from any direct involvement by transferring responsibility for this account to
another investment professional in the firm.
B. treat the account like other employee accounts of the firm.
C. treat the account like other client accounts.
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